Two-Unit Duplex
299 Greason Rd, Carlisle, PA 17015
For Sale
$248,500
Pending
Each residence has three bedrooms and separate living, dining, and kitchen areas.
Property Size2,556 SF
Days on Market8
Property Features for 299 Greason Rd
General Information
Standard status
Size
Property subtype
Financials
Gross Income
Average Monthly Rent
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Stories
Listing Agency:
Wolfe & Company REALTORS
Listed By:
MITCHELL S GELBAUGH · License PA AB049576L
(717) 805-7653
Source:
Viewmarylandhomesforsale
Added: Nov 6
Changed: Nov 10
Last Checked: Nov 10 at 11:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wolfe & Company REALTORS
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Investment Insights
Based on property information with market context.
The property comprises two attached, two-story homes, each with 1,278 square feet, three bedrooms, a living room, dining room, and kitchen. Both residences were built in 1910 and were leased to long-term tenants. Tenants paid for heat and electricity.
The two parcels are being offered together. The front parcel cannot be built on under West Pennsboro Township restrictions. The homes are adjacent to the Cumberland Valley Rail Trail, with views of mountains and surrounding farmland.
The two parcels are being offered together. The front parcel cannot be built on under West Pennsboro Township restrictions. The homes are adjacent to the Cumberland Valley Rail Trail, with views of mountains and surrounding farmland.
Key Highlights
- Two attached, two‑story homes, each with 1,278 square feet
- Three bedrooms, living room, dining room, and kitchen in each residence
- Built in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,589
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,780
$431.8K
Cap Rate 7%
$308,414
$308.4K
Cap Rate 9%
$239,878
$239.9K
Market Conditions
NOI Build-Up for 2,556 SF
Gross rent
$41.7K $16.32/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$39.3K $15.36/SF
− OpEx
−$17.7K −$6.91/SF
NOI
$21.6K $8.45/SF
Area
Cumberland County, PA
Vacancy
5.90%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,780
Cap Rate 7%
$308,414
Cap Rate 9%
$239,878
Alternative Uses
Best Use
Multifamily LT 5
$347.4K
$304.0K – $405.3K
NOI $24,319 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$308.4K
$269.9K – $359.8K
NOI $21,589 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$593.7K
$519.5K – $692.7K
NOI $41,562 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
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Business Placement
Demographics for 17015, PA
22,316
Population
10,025
Households
2.2
Avg Household Size
49
Median Age
35%
College-Educated
93%
High-School Grad
110.8 sq mi
ZIP Area
201
Density / Sq Mi
$87,634
Median Household Income
$47,624
Median Earnings
$1,168
Median Rent
$281,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Cumberland County, PA
Properties on Market for Duplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms and separate living, dining, and kitchen areas.
Where is this duplex located?
The property is located at 299 Greason Rd Carlisle, PA.
What is the asking price?
The asking price for this property is $248,500.
What are key features of this property?
This property features: Two attached, two‑story homes, each with 1,278 square feet; Three bedrooms, living room, dining room, and kitchen in each residence; Built in 1910
